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Podcast platform Audioboom focuses on advertising after 300m listens last year

London-headquartered audio on-demand platform Audioboom is to turn its attentions to advertising revenue after posting steady growth last year.

The change in focus comes as the digital business posted its financials today which revealed an almost four-fold increase in revenue, from £51,000 in 2014 to a modest £192,000 last year.

It also enjoyed a big leap in number of listens, with a 66% increase as it broke through the 300m individual listens for the 12 months ending 30 November 2015.

The technology firm also sealed a raft of new high-profile content providers including Yahoo! Sports, News International and NBA podcasts, and follows recent deals with Google Play and entertainment company Eros.

Commenting on today’s release, Rob Proctor, Chief Executive Officer of Audioboom, outlined how the focus on quality content had paid dividends, and that now the focus would be to complement content growth with advertising revenue growth.

He said: “2015 was a year of steady but important progress for Audioboom. We focused the business on our market leading Software as a Service (SaaS) platform and the monetisation of this asset through advertising revenue share agreements. In short, quality content is the key to driving ‘listens’; listens drive advertising and advertising drives revenue.

He added: “Our focus in 2016 remains on expanding our reach and distribution in the USA and India, monetisation, improving our platform functionality and consolidating our position as a leading B2B advertising and digital audio content distribution company - ultimately resulting in revenue growth in 2016 and beyond.”

Analysis

It has been a steady year of growth for Audioboom and its deals with Google Play and Indian entertainment provider Eros should see its exposure and market reach expand significantly in the next 12 months.

However, making the jump to advertising revenue growth can be a tricky business and is by no means a straight or easy road. As fellow audio platform Soundcloud will attest, monetising that which people are used to accessing for free, or stuffing a platform with intrusive advertising, can quickly alienate users and cause them to flee in their droves. Turning explosive growth into depressing decline.

It is a transition that must be handled sensitively and with care, but one which Audioboom seem well equipped to manage successfully considering their steady and considered growth thus far.

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